Selling your business is a significant decision that can have profound implications for the rest of your life. If you're thinking about selling, evaluate your motivations to ensure you’re selling at the right time and for the right reasons. Some motivations are more...
Retirement
Retirement Income Sources
As you embark on the journey to make your retirement dreams a reality, keep in mind that retirement income can come from many different sources, including the following: Part-time Work – Many people chose to work at least part-time in retirement to bring in extra...
Preparing for Retirement
Whether you plan on working for the rest of your life or not, saving for retirement is very important because it will help you get to the point where you’re working for the joy of it, not just out of necessity. Then you will be free to choose the type of work you...
Key to a Happy Retirement
What’s your picture of the ideal retirement: lying on the beach every day, traveling the world, non-stop shopping, or golfing 6 days a week? Studies show that many people who pursue nothing but constant leisure and entertainment during their golden years eventually...
IRAs
Traditional IRAs IRA stands for “Individual Retirement Arrangement,” also known as “Traditional IRA.” In 2015 and 2016, the most you can contribute per person is $5,500 ($6,500 if you’re age 50 or older). If you also have a retirement plan at work, the amount you can...
Defined Benefit Plans
Defined Benefit Plans are typically the most complex and expensive plans to administer out of all the types we have discussed in this section. They are designed to provide a certain predetermined benefit to employees when they retire, like a pension plan. Annual...